Luna Gold Corp. (TSX VENTURE:LGC)(BVLAC:LGC) ("Luna Gold" or the
"Company") is pleased to announce positive assay results from 30
additional holes from the resource drill program at the Piaba gold
deposit, Aurizona. An updated drill plan map and 3D Corebox model
showing the drill hole locations in the deposit have been uploaded
to the Luna Gold website at www.lunagold.com or to view directly
click below.
Significant intercepts:
-- 23.00 meters @ 4.04 g/t Au including 6.00 meters @ 12.40 g/t Au in
BRAZD400 (Section 1300E - New East Extension)
-- 71.00 meters @ 1.69 g/t Au in BRAZD390 (Section 1100E - New East
Extension)
-- 18.00 meters @ 3.54 g/t Au including 2.50 meters @ 7.30 g/t Au and 1.00
m @ 12.40 g/t Au in BRAZD391 (Section 1900W - New West Extension)
Updated Drill Plan Map
To view the Map, visit the following link:
http://www.lunagold.com/i/pdf/Piaba_Drill_Plan_Map_241111.pdf.
Luna Gold's President & CEO, John Blake, comments, "We are
on target to finalize the NI 43-101 resource update in early
December. These new drill results, inclusive of high grade holes
located well outside the boundary of our current resource estimate,
are of major significance. They further extend the strike length of
the Piaba deposit beyond the limits announced earlier this month
(see Luna press release dated November 7, 2011) and continue to
demonstrate Aurizona's growth potential. Management is very
encouraged by the continued positive trend in drill results and we
look forward to further development possibilities."
Today's assay results are for thirty drill holes totaling 6,961
meters drilled on 17 sections covering the now extended 3.3
kilometer strike length of the Piaba deposit. Significant
mineralized intercepts from holes drilled across the deposit are
tabulated below.
----------------------------------------------------------------------------
START END AU
DEPTH DEPTH FROM TO INT (G/T)
SECTION HOLE ID AZI DIP (M) (M) (M) (M) (M) UNCAPPED
----------------------------------------------------------------------------
1300E BRAZD388 168 -70 0.00 193.15 147.00 157.00 10.00 3.48
----------------------------------------------------------------------------
BRAZD398 168 -52 0.00 128.30 No significant Intercepts
----------------------------------------------------------------------------
BRAZD400 168 -79 100.00 231.02 173.00 196.00 23.00 4.04
----------------------------------------------------------------------------
Including 178.00 184.00 6.00 12.40
----------------------------------------------------------------------------
1200E BRAZD387 168 -50 0.00 100.47 No significant Intercepts
----------------------------------------------------------------------------
BRAZD389 168 -65 100.00 198.84 150.00 155.00 5.00 1.88
----------------------------------------------------------------------------
Including 153.00 154.00 1.00 5.41
----------------------------------------------------------------------------
159.00 181.00 22.00 1.40
----------------------------------------------------------------------------
Including 175.00 178.00 3.00 4.57
----------------------------------------------------------------------------
BRAZD394 168 -65 100.00 328.91 222.00 234.00 12.00 1.72
----------------------------------------------------------------------------
1100E BRAZD390 168 -75 0.00 228.90 132.00 203.00 71.00 1.69
----------------------------------------------------------------------------
1000E BRAZD373 168 -65 0.00 218.56 6.00 12.00 6.00 1.00
----------------------------------------------------------------------------
BRAZD380 168 -50 0.00 154.37 No significant Intercepts
----------------------------------------------------------------------------
0800E BRAZD377 168 -68 0.00 181.41 0.00 6.00 6.00 1.24
----------------------------------------------------------------------------
96.00 118.00 22.00 1.73
----------------------------------------------------------------------------
Including 100.00 103.00 3.00 4.85
----------------------------------------------------------------------------
BRAZD396 168 -50 0.00 143.25 0.00 10.00 10.00 1.87
----------------------------------------------------------------------------
Including 6.00 8.00 2.00 5.03
----------------------------------------------------------------------------
62.00 81.00 19.00 5.43
----------------------------------------------------------------------------
Including 62.00 64.00 2.00 11.90
----------------------------------------------------------------------------
And 79.00 81.00 2.00 13.88
----------------------------------------------------------------------------
0700E BRAZD378 168 -50 0.00 145.61 65.00 67.00 2.00 2.33
----------------------------------------------------------------------------
69.00 78.00 9.00 1.17
----------------------------------------------------------------------------
Including 76.00 77.00 1.00 5.30
----------------------------------------------------------------------------
0500E BRAZD336A 168 -50 50.00 146.65 102.00 104.00 2.00 1.32
----------------------------------------------------------------------------
106.00 108.00 2.00 1.84
----------------------------------------------------------------------------
0400E BRAZD352A 168 -78 100.00 323.24 236.00 239.00 3.00 1.05
----------------------------------------------------------------------------
244.00 256.00 12.00 1.04
----------------------------------------------------------------------------
260.00 288.00 28.00 2.49
----------------------------------------------------------------------------
Including 260.00 263.00 3.00 5.93
----------------------------------------------------------------------------
270.00 272.00 2.00 5.74
----------------------------------------------------------------------------
BRAZD385 168 -58 0.00 238.52 174.00 178.00 4.00 3.69
----------------------------------------------------------------------------
181.00 183.00 2.00 1.34
----------------------------------------------------------------------------
186.00 197.00 11.00 1.22
----------------------------------------------------------------------------
Including 191.00 192.00 1.00 5.46
----------------------------------------------------------------------------
BRAZD393 168 -72 100.20 374.34 256.00 284.00 28.00 1.63
----------------------------------------------------------------------------
Including 272.00 273.00 1.00 5.01
----------------------------------------------------------------------------
0300E BRAZD346 168 -79 119.90 345.32 289.00 298.00 9.00 1.48
----------------------------------------------------------------------------
Including 294.00 295.00 1.00 5.65
----------------------------------------------------------------------------
317.00 321.00 4.00 2.07
----------------------------------------------------------------------------
330.00 336.00 6.00 1.26
----------------------------------------------------------------------------
Including 333.00 334.00 1.00 4.29
----------------------------------------------------------------------------
0200E BRAZD347 168 -77 100.00 388.52 260.00 266.00 6.00 4.69
----------------------------------------------------------------------------
278.00 316.00 38.00 1.53
----------------------------------------------------------------------------
Including 280.50 281.00 0.50 9.78
----------------------------------------------------------------------------
And 284.00 285.00 1.00 5.24
----------------------------------------------------------------------------
And 289.00 290.00 1.00 7.20
----------------------------------------------------------------------------
321.00 334.00 13.00 1.01
----------------------------------------------------------------------------
Including 332.00 333.00 1.00 7.62
----------------------------------------------------------------------------
BRAZD355 168 -69 100.00 301.15 247.00 274.00 27.00 1.61
----------------------------------------------------------------------------
285.00 288.00 3.00 2.72
----------------------------------------------------------------------------
0600W BRAZD337 168 -70 100.00 375.10 208.00 220.00 12.00 1.16
----------------------------------------------------------------------------
242.00 246.00 4.00 3.85
----------------------------------------------------------------------------
350.00 357.00 7.00 2.67
----------------------------------------------------------------------------
Including 354.00 355.00 1.00 10.70
----------------------------------------------------------------------------
BRAZD344 168 -62 50.00 361.56 227.00 229.00 2.00 2.63
----------------------------------------------------------------------------
237.50 238.00 0.50 15.15
----------------------------------------------------------------------------
265.00 271.00 6.00 1.30
----------------------------------------------------------------------------
279.00 304.00 25.00 1.34
----------------------------------------------------------------------------
Including 281.50 282.00 0.50 6.48
----------------------------------------------------------------------------
1350W BRAZD348 168 -50 0.00 80.12 38.00 51.00 13.00 1.52
----------------------------------------------------------------------------
1500W BRAZD349 168 -50 0.00 98.96 24.00 50.00 26.00 1.28
----------------------------------------------------------------------------
Including 24.00 25.00 1.00 11.65
----------------------------------------------------------------------------
And 30.50 31.00 0.50 5.49
----------------------------------------------------------------------------
1600W BRAZD354 168 -76 0.00 218.86 32.00 44.00 12.00 1.02
----------------------------------------------------------------------------
Including 40.00 42.00 2.00 3.76
----------------------------------------------------------------------------
1700W BRAZD357 168 -76 0.00 153.24 52.00 62.00 10.00 1.17
----------------------------------------------------------------------------
1900W BRAZD386 168 -64 0.00 162.62 12.00 18.00 6.00 2.79
----------------------------------------------------------------------------
BRAZD391 168 -75 100.00 371.00 270.00 284.00 14.00 1.62
----------------------------------------------------------------------------
293.00 311.00 18.00 3.54
----------------------------------------------------------------------------
Including 294.00 296.50 2.50 6.84
----------------------------------------------------------------------------
And 302.50 305.00 2.50 7.30
----------------------------------------------------------------------------
And 306.00 306.50 0.50 6.49
----------------------------------------------------------------------------
And 309.00 310.00 1.00 12.40
----------------------------------------------------------------------------
314.00 317.00 3.00 1.31
----------------------------------------------------------------------------
344.00 356.00 12.00 1.45
----------------------------------------------------------------------------
2000W BRAZD384 168 -70 0.00 249.19 100.00 108.00 8.00 1.76
----------------------------------------------------------------------------
BRAZD392 168 -50 0.00 202.43 76.00 80.00 4.00 1.06
----------------------------------------------------------------------------
BRAZD397 168 -72 100.00 316.90 255.00 257.50 2.50 1.58
----------------------------------------------------------------------------
Table 1. Mineralized drill intercepts from the Aurizona resource drill
program. Intervals are calculated as composites using a 0.30 gram/tonne Au
cut-off and maximum 2 metre internal waste. True widths to be established.
Intervals lower than 1.00 g/t Au are not shown.
Luna Gold's VP Exploration, Titus Haggan, states, "These are
solid results leading into the 2011 Aurizona resource update. We
have now defined the Piaba deposit over a 3.3 kilometer strike
length which remains open along strike and at depth. Drilling at
the Boa Esperanca near mine target has commenced with two diamond
drill rigs and one reverse circulation drill rig."
About Luna Gold Corp.
Luna Gold is actively engaged in the operation, exploration,
acquisition and development of gold opportunities in Brazil. The
Company currently has a gold mining operation, Aurizona Gold Mine
in Maranhao, Brazil, a gold development project, the Cachoeira
project in Para, Brazil and the Company is exploring in a large
strategically placed greenfields land position in Maranhao,
Brazil.
On behalf of the Board of Directors
LUNA GOLD CORP.
John Blake - President and CEO
Regulatory Footnotes
Luna operates a rigorous QA/QC protocol on all aspects of
sampling and analytical procedure. Drill core is checked, logged,
marked for sampling and sawn in half. One half of the HTW (71 mm
diametre) core is maintained for future reference and one half of
the core is sent for analysis. Samples are collected at
approximately 2 metre intervals, which is reduced to 1 metre
interval or less when a mineralized zone is encountered. All core
and samples are stored in secure locked areas. Some samples are
transported from the Aurizona project to the ACME Labs sample
preparation facility in Cuiaba, Mato Grosso and Goiania, Goias
accompanied by Luna personnel. Samples are assayed at ACME Labs in
Santiago, Chile using a 50 gram fire assay with AAS finish. Other
samples are transported from the Aurizona project to the ALS Chemex
sample preparation facility in Belo Horizonte, Minas Gerais
accompanied by Luna personnel. Samples are assayed at ALS Chemex
Labs in Lima, Peru and Perth, Australia using a 50 gram fire assay
with AAS finish. Each sample batch contains 10% of randomly
inserted internal control samples consisting of certified
analytical standards, blanks (barren rock) and duplicates. These
QA/QC procedures provide several measures of data quality and
assure the Company that the assay data is representative of the
original sample. Additional technical information about the
Aurizona Project is available in our technical report dated
September 1, 2010, filed on SEDAR.
Titus Haggan, Ph.D., EurGeol Certified Professional Geologist
#746, Luna's Vice President Exploration is the Qualified Person as
defined under National Instrument 43-101 responsible for the
scientific and technical work on the exploration program and has
supervised the preparation of and reviewed the technical disclosure
in this press release. Non- qualified persons currently work on
Luna's exploration programs under the guidance of Titus Haggan. Dr.
Haggan takes responsibility for work, information and advice
generated by non-Qualified persons and has taken the steps required
to ensure that the work, information and advice is sound.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in the
United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended or any state securities laws and may not be offered or sold
within the United States or to U.S. persons unless registered under
the United States Securities Act of 1933 and applicable state
securities laws or an exemption from such registration is
available.
Forward-Looking Statements
This release contains certain "forward-looking statements" and
certain "forward-looking information" as defined under applicable
Canadian and U.S. securities laws. Forward-looking statements can
generally be identified by the use of forward-looking terminology
such as "may", "will", "expect", "intend", "estimate",
"anticipate", "believe", "continue", "plans" or similar
terminology. Forward-looking statements include, but are not
limited to, statements with respect to the exploration program for
the Company's exploration programs and any planned resource
upgrades. Forward-looking statements are based on forecasts of
future results, estimates of amounts not yet determinable and
assumptions that, while believed by management to be reasonable,
are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Certain of the
statements made herein by Luna Gold Corp. are forward-looking and
subject to various risks and uncertainties, both known and unknown,
many of which are beyond the ability of Luna Gold Corp. to control
or predict. Known and unknown factors could cause actual results to
differ materially from those projected in the forward-looking
statements.
Forward-looking information is subject to known and unknown
risks and uncertainties that may cause Luna Gold Corp.'s actual
results, performance or achievements may be materially different
from those expressed or implied by such forward-looking
information, and are developed based on assumptions about such
risks, uncertainties and other factors set out here in, including
but not limited to the inherent risks involved in the exploration
and development of mineral properties, the uncertainties involved
in interpreting drill results and other exploration data, the
potential for delays in exploration or development activities, mine
development and production costs, the projected life of the
Company's mines, future production levels, the geology, grade and
continuity of mineral deposits, the possibility that future
exploration, development or mining results will not be consistent
with the Company's expectations, accidents, equipment breakdowns,
title matters, labor disputes or other unanticipated difficulties
with or interruptions in production and operations, fluctuating
metal prices, unanticipated costs and expenses, uncertainties
relating to the availability and costs of financing needed in the
future, the inherent uncertainty of production and cost estimates
and the potential for unexpected costs and expenses, commodity
price fluctuations, currency fluctuations, regulatory restrictions,
including environmental regulatory restrictions and liability,
competition, loss of key employees, and other related risks and
uncertainties. The Company undertakes no obligation to update
forward-looking information except as required by applicable law.
Such forward-looking information represents management's best
judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future
results may vary materially. Accordingly, readers are advised not
to place undue reliance on forward-looking statements or
information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Luna Gold Corp. Investor Relations (604) 558 0560
(604) 558 0561 (FAX)www.lunagold.com
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